Nuclear energy, in terms of an overall safety record, is better than other energy.
Bill GatesRead
The world needs banking but it does not need banks.
Interpretation
What this quote means
This quote suggests that while the functions of banking are essential for society, the traditional bank institutions may not be necessary.
Bill Gates' quote highlights the distinction between the services that banks provide and the traditional banking institutions themselves. He argues that the financial services are important for the functioning of the economy, but new technologies and innovations may be able to fulfill these roles without relying on the conventional banking structure, implying a need for change in how we consider financial services in the modern world.
Themes
BankingFinancial ServicesInnovationTechnologyEconomy
In practice
Example use cases
This quote can be used in a discussion about the future of finance during a seminar on fintech.
More from Bill Gates
All quotes →The Internet is becoming the town square for the global village of tomorrow.
Bill GatesRead
With the states release today of a set of clear and consistent academic standards, our nation is one step closer to supporting effective teaching in every classroom, charting a path to college and careers for all students, and developing the tools to help all children stay motivated and engaged in their own education. The more states that adopt these college and career based standards, the closer we will be to sharing innovation across state borders and becoming more competitive as a country.
Bill GatesRead
About three million computers get sold every year in China, people don't pay for the software. Someday they will, though. And as long as they're going to steal it, we want them to steal ours. They'll get sort of addicted, and then we'll somehow figure out how to collect sometime in the next decade.
Bill GatesRead
Internet TV and the move to the digital approach is quite revolutionary. TV has historically has been a broadcast medium with everybody picking from a very finite number of channels.
Bill GatesRead
These four policy prescriptions - strengthening educational opportunities, revamping immigration rules for highly skilled workers, increasing federal funding for basic scientific research, and providing incentives for private-sector R&D - should in my view be top priorities as Congress and the Administration consider how to maintain the nation's leadership in science, technology, and innovation.
Bill GatesRead
Similar quotes
Economics is a choice between alternatives all the time. Those are the trade-offs.
Paul SamuelsonRead
What someone is paid has little or no relationship to what their work is worth to society.
Robert ReichRead
Library of the Works of Ludwig von Mises”. Here is an article he wrote in 1951, some two years after his magnum opus Human Action appeared, where is lays out his case in a more popular form. The money sentences are “Economic theory has demonstrated in an irrefutable way that a prosperity created by an expansionist monetary and credit policy is illusory and must end in a slump, an economic crisis. It has happened again and again in the past, and it will happen in the future, too.
Ludwig Von MisesRead
Economists love to talk about incentives, but the bottom line is that people hate being controlled or manipulated, even when done through voluntary institutions. This is one of the most important tensions in capitalism.
Tyler CowenRead
Large corporations, of course, are blinded by greed. The laws under which they operate require it - their shareholders would revolt at anything less.
Aaron SwartzRead
Capitalism is not an 'ism.' It is closer to being the opposite of an 'ism,' because it is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to.
Thomas SowellRead